I'll share this from the recent interview with Owlcat:
https://www.gamespace.com/all-articles/news/pathfinder-wrath-of-the-righteous-interview-dlc/
"As for the studio itself Owlcat Games was originally established as an international company and we had employees all around the world. After the pandemic started and the team switched to remote work the process of relocation started almost on its own. Right now we are actively helping our employees to move to different places like Cyprus, where our HQ is located, a new office in Armenia and other European countries where they can focus on work and creativity. We already have successful experience of decentralized and remote work for the last two years and we believe that the team will continue to create great games further."
So the company is headquartered in Cyprus, but what is unsaid here is that a good number of employees are Russian. However, under the "actively helping employees move to different places," I took that to mean that they are actively working to move their Russian staff to their other offices.